HBS

Active

Public limited companyfounded 1991active for 35 yearsLammerdries 12, 2440 Geel, Belgium46 active companies are registered at this addressKBO/BCE: BE 0443.480.337

Summary

HBS has been active since 1991 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €181,827 and a net result of -€90,801. Equity is shrinking by about 13% per year and would, assuming unchanged policy, indicatively turn negative around financial year 2028. Its solvency ranks better than 13% of 1,025 sector peers (NACE 41, financial year 2025). The computed 12-month bankruptcy probability is 1.0% (low).

Risk analysisFollow Report Compare

HBSActiveChecked score 65/100

Risk analysis Report Compare

Activity

General construction of residential buildings

NACE 41001

9th largest employer in Geel, Construction sector1 site

Size

€7.3mturnover 2025

Staff: 21.5 FTE
Equity: €181,827
Loss: -€90,801

Financial health

65 Healthy Checked score 2025

Bankruptcy probabilitywithin 12 months: 1.0%

Structure

Parent: VANHOUT · 100%
Holdings: 3

Jureco bvDirector · permanent representative Ronny Eijckmans
Manibel bvDirector · permanent representative Bert Lenaerts

Auditor: DELOITTE Bedrijfsrevisoren BV2025 accounts 31 days early4 of 17 deeds summarised

Why 65raises riskEquity €181,827 (4.7% of total assets)Sector: Construction of residential and non-residential buildings (NACE 41)2 of the last 3 latelowers riskLiquidity: current ratio 1.14, cash €879,345, halvedShow the evidence

Checked score

Score 2025

65 / 100

Healthy

Probability in this band: 0.55% to 1.5%

Financially better than 27% of its sector peers (NACE 41, small)

Every signal that counts is listed under Signals.

Financial strength · tick = 2024

Weak

Solvency 30=

equity 4.7% of total assets

Liquidity 37-9

short-term debt 76.1% · cash 22.9%

Profitability 52+52

return on assets -2.4%

Bankruptcy probability, 12 months

1.0% Low

0%0.5%1.5%4%10%≥ 25%

About 1 in 100 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.4% (911 companies, NACE 41, small)

Last 24 months 11-2024: 2.0% 12-2024: 3.9%▲ +1.9 percentage points vs 11-2024 01-2025: 3.9%● unchanged vs 12-2024 02-2025: 3.8%▼ -0.1 percentage points vs 01-2025 03-2025: 3.8%● unchanged vs 02-2025 04-2025: 3.8%● unchanged vs 03-2025 05-2025: 3.6%▼ -0.2 percentage points vs 04-2025 06-2025: 3.5%▼ -0.1 percentage points vs 05-2025 07-2025: 3.8%▲ +0.3 percentage points vs 06-2025 08-2025: 4.2%▲ +0.4 percentage points vs 07-2025 09-2025: 4.2%● unchanged vs 08-2025 10-2025: 4.4%▲ +0.2 percentage points vs 09-2025 11-2025: 4.4%● unchanged vs 10-2025 12-2025: 4.6%▲ +0.2 percentage points vs 11-2025highest value 01-2026: 2.3%▼ -2.3 percentage points vs 12-2025 02-2026: 2.2%▼ -0.1 percentage points vs 01-2026 03-2026: 2.2%● unchanged vs 02-2026 04-2026: 2.2%● unchanged vs 03-2026 05-2026: 2.1%▼ -0.1 percentage points vs 04-2026 06-2026: 2.2%▲ +0.1 percentage points vs 05-2026 07-2026: 1.8%▼ -0.4 percentage points vs 06-2026 08-2026: 1.9%▲ +0.1 percentage points vs 07-2026 09-2026: 2.0%▲ +0.1 percentage points vs 08-2026 10-2026: 1.0%▼ -1.0 percentage point vs 09-2026lowest value

Credit of up to €11,000 on 30-day terms is acceptable

Liquidity tight (current ratio 1.14, compared with 0.93 in 2024, below the usual 1.5; short-term debt: 76.1% and cash: 22.9% of total assets), and 95.3% of the assets are financed with debt and provisions.

How it is calculated

The band follows from the bankruptcy probability, on a scale where 10 more points roughly halve it:

75-100	Excellent	under 0.55%
60-74	Healthy	0.55% to 1.5%
45-59	Fair	1.5% to 4.2%
25-44	Weak	4.2% to 15.0%
0-24	Critical	over 15.0%

Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 41, small): better than 12% on solvency, 43% on liquidity, 41% on profitability and 11% on growth.

The bankruptcy probability was computed on 26-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.

Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).

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Signals

Seven signals.

lowers riskraises riskneutral

Equity €181,827 (4.7% of total assets)

NBB · annual accounts

Sector: Construction of residential and non-residential buildings (NACE 41)

KBO

2 of the last 3 late

NBB · filings

Liquidity: current ratio 1.14, cash €879,345, halved

NBB · annual accounts

Persistent losses

Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.

NBB · annual accounts 2025

Net result per financial year

1819202122232425

2018 to 2025 · latest year -€90,801

Weak solvency vs sector

Solvency (equity / total assets) is in the sector's weakest quartile: better than 13% of 1025 sector peers (2025).

NBB · sector comparison

Position among 1025 sector peers

Solvency

better than 13%

← weakest strongest →

Latest accounts filed on time

The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 30-06-2026, 31 days ahead of the deadline.

NBB · 10 filings

Deviation from the deadline

2025

31 days early

2024

125 days late

2023

119 days late

2022

35 days early

2021

46 days late

2020

30 days late

2019

31 days late

← before the deadline after the deadline →

tick = median of all Belgian filingsring = median in the sector

This company filed its last 7 accounts on average 41 days after the deadline; the sector median (NACE 41) for financial year 2024 is on the deadline day, and 46% of those companies filed late.

Searched, nothing found (2)

Next filing not due yet

The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 15 September (4 of the last 5 filed years within 79 days of that day).

Companies Code · seven months

Where today falls in the filing period

27-10-2026 today31-12-2026 year end31-07-2027 deadline

No strike-offs in the KBO publications

Searched since 2021.

KBO publications · our coverage

30-06-2026 Annual accounts filedfinancial year 2025 · full…
03-12-2025 Annual accounts filedfinancial year 2024 · full…
24-03-2025 Reappointments: Jureco bv (director) and Manibel…Permanent representatives: Ronny Eijckmans and…

Key points

Risk: 4 loss-making years in a rowloss financial year 2025 -€90,801 View
Positive: Result rose in 2025from -€2.9m to -€90,801 ▲ 96.9% View
Caution: Among the weakest 13% on net resultsector median €33,182 · 1,027 companies -€90,801 View
Controlled by VANHOUTultimately: BESIX Group 100% View

By topic

Financials

Financial year: 2025
Turnover: €7.3m
Loss: -€90,801
Solvency: 4.7%

Turnover▼ 33.3%

Net result

20182025

Go to Financials

Board & ownership

Board: 2 members
Parent: VANHOUT · 100%
Auditor: DELOITTE Bedrijfsrevisoren BV

Jureco bvDirector
Manibel bvDirector

Go to Board & ownership

Network & group

Group: BESIX Group
Holdings: 3

3 holdings

Go to Network & group

Timeline

Events: 39
Since: 1993
Next accounts: by 31-07-2027

02-01-2025Resignation: Forvis Mazars Bedrijfsrevisoren (statutory auditor)
31-12-2024Weakest financial year
30-12-2024Capital & shares · Amendment of the…

Go to Timeline

Company details

Sites: 1

Legal form: Public limited company
Activity: General construction of residential buildingsNACE 41001
Founded: 06-03-1991
Year ends: 31-12
Peppol: Reachable for e-invoices

Go to Company details

Articles of association

Provisions read: 34

Annual meeting: Last Friday of May

Go to Articles of association

Key facts about HBS

What is the company number of HBS?: 0443.480.337. In Belgium the VAT number is the company number with BE in front: BE 0443.480.337.
Where is HBS based?: The registered office is at Lammerdries 12, 2440 Geel.Company details
What does HBS do?: According to the KBO register, the main activity is general construction of residential buildings (NACE 41001).
What is the legal form of HBS?: Public limited company (NV).
When was HBS founded?: On 06-03-1991.
Is HBS still active?: Yes, HBS is an active enterprise in the KBO register.
How many employees does HBS have?: On average 21.5 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
What is the turnover of HBS?: €7.3m in financial year 2025, according to the filed annual accounts.
Is HBS profitable?: In financial year 2025, HBS made a loss of €90,801.
Where can I find the annual accounts of HBS?: HBS filed 34 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
When are the next annual accounts of HBS due?: By 31-07-2027, for financial year 2026.Timeline

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Overview